The Commonwealth Bank Household Spending Intentions (HSI) series data to end September 2020 shows that spending intentions largely tracked sideways in September – as the impacts of the Victoria stage 4 shutdowns remain evident. Both Home Buying and Motor Vehicle spending intentions softened a little during September. Spending intentions for Retail, Travel, Health & Fitness, Entertainment and Education tracked sideways. Notwithstanding the developments in September, spending intentions should be supported by the easing of Covid-19 restrictions in the months ahead and the significant fiscal policy stimulus detailed in the 2020/21 Commonwealth Budget that will support household income and employment, as well as business cash flow and investment.
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